Sensex slips 250 points after hitting record high
Sensex and Nifty both hit new peaks on Monday, but the excitement didn't last long.
After touching fresh 52-week highs, Sensex dropped about 250 points to 84,360, and Nifty was trading just under 25,850.
The dip mainly came from investors cashing in profits after a strong rally, especially following solid September quarter results from big players like Reliance and HDFC Bank.
Global worries and technical resistance
It wasn't just profit-taking. Global worries played a part too, with former US President Trump warning of "massive" tariffs on India over Russian oil imports.
Technical analysts also pointed out resistance zones for Nifty, hinting at more volatility ahead if certain levels aren't held.
With mixed vibes in the market, the focus is on upcoming company earnings to see if this is just a quick pause or something bigger.